Exporting excellence- thechronicleherald.caPublished: Saturday, January 20, 2007Nova Scotia has come a long way in the development of exporters. With the cooperative efforts of the provincial and federal governments and strong input from the private sector, Trade Team Nova Scotia now offers the kind of help that small-and-medium-size companies need to get their goods to foreign markets.
Jim Simpson of Nova Scotia Business Inc. describes the model as a continuum, ranging from small start-ups in basements or garages to larger established operations, with significant business experience. What they have in common is a constant search for new markets and partners.
The Atlantic Canada Opportunities Agency provides the front-end assistance with training and mentoring programs for the start-up entrepreneur. The ACOA statistics are regional, rather than provincial. But it is clear that prospective exporters are taking to the possibilities with enthusiasm. Over the past five years ACOA provided assistance designed to help more than 4,500 companies begin exporting. Last year alone ACOA assisted 1,500 people in export development training with a mentoring program and grants to hire consultants to advise on market readiness.
Because one of ACOA’s priorities is the encouragement of women in business, it partners with the centre for Women In Business at Mount Saint Vincent University to train women exporters and develop women entrepreneurs. In the Atlantic region women are starting new businesses at three times the rate of men.
NSBI comes in at the second stage of the continuum, working with ACOA, the federal government’s International Trade Centre for Foreign Affairs and their contacts to help export-ready firms find their markets. Jim Simpson notes that the hardest part of the process involves "cold calling," — contacting prospects, offering company profiles and setting up meetings.
The trade mission is the favoured mode and the preparation for these events in today’s market is the perfect example of how far the Trade Team Nova Scotia has come in the last decade. In their infancy Nova Scotia missions often didn’t allow for enough lead time and did not have the proper contacts to set up the needed matches between their clients and prospects in the various markets.
All that has changed. Trade Team Nova Scotia is a polished and professional organization that has all its priorities and planning straight. The trade mission is based entirely on matchmaking, and the team is now averaging one mission per month. Companies generally do their own research, usually on the Internet, to pinpoint new markets. Companies are also encouraged to do their homework on market conditions and this has proved very successful. This research helps to solve difficult questions like pricing. Simpson notes that companies are encouraged to consult catalogues and familiarize themselves with local currencies.
TTNS then provides a list of matchmakers for specific areas. The Department of International Trade also has lists available, as do individual consulates, embassies, and high commissions worldwide.
Companies accepted for trade missions pay a $500 fee, as well as their own travel expenses. In return they are guaranteed six contact meetings, the networking event, ground transportation and the services of a provincial government representative accompanying the mission.
The missions are multi-sector. A recent foray to Cologne Germany included biotech, building supply, engineering, health products, educational services and construction firms. Upcoming missions include Portland Maine and Scotland. A group recently returned from Ireland with good initial results.
Simpson notes that the success come not only from planning, but from the atmosphere and spirit generated by the group.
"There is both camraderie and competitive spirit. Enthusiasm seems to grow as companies work together in this milieu to better their own profits and the state of their province’s economy."